Uncategorized

Tweaking will not protect journalists

roymorgansocial Leave a comment

Original article by Chris Merritt
The Australian – Page: 24 : 4-Oct-19

Attorney-General Christian Porter is at odds with Law Council president Arthur Moses over a ministerial directive that allows him to veto prosecutions against journalists over reports that may breach secrecy laws. Porter’s ministerial directive also seemingly contradicts one issued by Home Affairs Minister Peter Dutton in early August, in the wake of the Australian Federal Police’s media raids. Porter’s ministerial directive could potentially enable him to kill off AFP cases against media companies and journalists that have been sanctioned by Dutton.

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, LAW COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIAN FEDERAL POLICE

Nine to seal Macquarie deal as Carnegie sells out for $9m

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 19 : 4-Oct-19

Venture capitalist Mark Carnegie is believed to have agreed to sell his 3.6 per cent stake in Macquarie Media to Nine Entertainment Company. This would put Nine over the 90 per cent threshold for the compulsory acquisition of the radio stations owner. Wilson Asset Management chairman Geoff Wilson, who has a 4.7 per cent stake in Macquarie, is continuing to push for a better offer for small shareholders; he contends that Nine’s $1.46-per-share bid undervalues the target.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MACQUARIE MEDIA LIMITED – ASX MRN, WILSON ASSET MANAGEMENT

Reforms to level media playing field

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 7 : 4-Oct-19

Traditional and digital media companies will be subject to the same regulatory regime under changes proposed by the federal government. Any reforms arising from the review of the regulatory regime are expected to be implemented in stages, as recommended by the Australian Competition & Consumer Commission in the final report of its Digital Platforms Inquiry. Potential reforms could include imposing local content obligation on subscription video-on-demand services and increasing the producer tax offset for TV shows.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, STAN ENTERTAINMENT PTY LTD, NETFLIX INCORPORATED, AMAZON PRIME VIDEO, DISNEY+

Kogan launches Visa card and $300 credit offer

roymorgansocial Leave a comment

Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 3-Oct-19

Online retailer Kogan.com has partnered with Citigroup to launch a Visa-branded credit card. The Kogan Money card has no annual fee and a 55-day interest-free period, while cardholders will receive free membership of the Kogan First customer loyalty scheme. Kogan announced the alliance with Citigroup in November 2018, and flagged plans to launch a credit card during 2019. Kogan has previously diversified into products such as superannuation, home loans and mobile phones.

CORPORATES
KOGAN.COM LIMITED – ASX KGN, CITIGROUP PTY LTD, VISA INTERNATIONAL, UBS HOLDINGS PTY LTD

CEO shakes up Seven with new structure and job cuts

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 15 & 18 : 3-Oct-19

The number of people who report directly to Seven West Media CEO James Warburton has been reduced from 17 to just eight as part of a broader restructuring at the group. Seven West Media will also hire three new executives, including the newly-created role of chief content officer. Seven will also streamline its operating divisions and shed staff as it seeks to reduce costs by about $20m in 2019-20. Warburton had flagged an overhaul at Seven West Media when he took the helm in August.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, FAIRFAX MEDIA LIMITED, TEN NETWORK HOLDINGS LIMITED

Nine closes in on Macquarie

roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 19 : 2-Oct-19

Nine Entertainment Company has lifted its stake in Macquarie Media to 88.78 per cent, with its offer of $1.46 per share due to close on 14 October. The support of Wilson Asset Management and Mark Carnegie – with Macquarie stakes of 2.9 per cent and 3.6 per cent respectively – remain crucial to whether Nine passes the 90 per cent threshold to trigger compulsory acquisition. Macquarie broadcaster Alan Jones also has a one per cent stake in the company, and advertising veteran John Singleton expects him to accept the offer.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MACQUARIE MEDIA LIMITED – ASX MRN, WILSON ASSET MANAGEMENT

A-G’s media plan misses mark

roymorgansocial Leave a comment

Original article by Chris Merritt
The Australian – Page: 6 : 2-Oct-19

The effectiveness of the federal government’s proposal to provide new legal protections for journalists continues to be questioned. News Corp Australia executive Campbell Reid contends that providing the attorney-general with ministerial discretion to block legal action against journalists for publishing legitimate news reports will have no effect on the level of scrutiny and investigation into journalists. Law Council of Australia president Arthur Moses and Media, Entertainment & Arts Alliance CEO Paul Murphy also contend that the reforms are insufficient.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, LAW COUNCIL OF AUSTRALIA, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS, AUSTRALIAN FEDERAL POLICE, UNIVERSITY OF NEW SOUTH WALES

Betta is best, according to furniture and electrical buyers

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 1-Oct-19

Betta Home Living/Betta Electrical has won Roy Morgan’s Customer Satisfaction Award for furniture and electrical retailers for the third month in a row, with a customer satisfaction rating of 95% in August 2019. This is 15% higher than a year ago. In joint second place are IKEA and JB Hi-Fi, which each have customer satisfaction ratings of 90%, both down 1% from a year ago. Roy Morgan’s research also shows that women do the majority of the shopping at Betta Home Living/Betta Electrical, and nearly half its customers are aged 50 or over, while the average IKEA customer is female and aged 25 to 49. These findings come from the Roy Morgan Single Source survey, which is based on in-depth face-to-face interviews with over 50,000 Australians each year in their homes.

CORPORATES
ROY MORGAN LIMITED, BETTA HOME LIVING, BETTA ELECTRICAL PTY LTD, IKEA TRADING PTY LTD, JB HI-FI LIMITED – ASX JBH

A-G given veto to safeguard journalists

roymorgansocial Leave a comment

Original article by Chris Merritt
The Australian – Page: 1 & 6 : 1-Oct-19

News Corp Australia executive Campbell Reid says the federal government’s proposal to provide new legal protections for journalists is insufficient. Attorney-General Christian Porter has issued a ministerial direction to the Commonwealth Director of Public Prosecutions which will require it to seek permission from the attorney-general to pursue legal action against journalists if such prosecution is deemed to be in the public interest. Law Council president Arthur Moses has also expressed reservations about the reforms.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, LAW COUNCIL OF AUSTRALIA, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DIRECTOR OF PUBLIC PROSECUTIONS

Digital cash grab not so bad for some

roymorgansocial Leave a comment

Original article by Zoe Samios
The Australian – Page: Online : 27-Sep-19

A report released on advertising spending on 26 September revealed that digital’s share of spending has risen from nine per cent to 29 per cent since 2009. Television’s share of spending has fallen since 2009, as has news media and magazines, but radio and outdoor media have increased their share, along with digital. Commenting on the report, federal Communications Minister Paul Fletcher says the report suggests the outlook for traditional media in terms of competition from the digital sector may not be as bad as some have suggested.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS